BankPlus Wealth Management LLC Buys Shares of 12,421 Rivian Automotive, Inc. (NASDAQ:RIVN)

BankPlus Wealth Management LLC purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,421 shares of the electric vehicle automaker’s stock, valued at approximately $165,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIVN. Charles Schwab Investment Management Inc. increased its holdings in Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the period. International Assets Investment Management LLC increased its position in Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after acquiring an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after buying an additional 124,950 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Rivian Automotive by 543.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after purchasing an additional 120,544 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Rivian Automotive by 42.7% in the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after purchasing an additional 54,053 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Price Performance

RIVN stock opened at $12.85 on Tuesday. The company’s fifty day moving average price is $13.25 and its 200-day moving average price is $12.94. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The company has a market capitalization of $13.12 billion, a PE ratio of -2.29 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Robert W. Baird reissued a “neutral” rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Truist Financial lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $13.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC lowered their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.52.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 18,501 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock valued at $4,958,860 over the last 90 days. 2.51% of the stock is owned by corporate insiders.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.